The financial irregularities in Infosys' BPO unit that led to the sacking of the CFO is reportedly linked to the overbilling of services for Apple Inc. Six more people may also face the axe over the matter.
Infosys fired its BPO unit's CFO Abraham Mathews for violation of the company's code of conduct, as he failed to throw light on the irregularities made by his employees.
The BPO unit's CEO Gautam Thakkar had also put down his papers, citing responsibility on "moral grounds".
The irregularities in Infosys BPO's dealings with Apple came out during an internal audit, Reuters reported. Six more employees are in the line of fire for allegedly producing inflated invoices and overbilling Apple for many months.
Till Wednesday, it was reported that Mathews had failed to disclose financial irregularities by an employee, who had overbilled a client at one of the BPO's centres, but it was not known who the client was.
While the financial fraud's impact was said to be minimal, the company took the firm step of sacking the CFO to underline its "zero-tolerance policy for any improper conduct".
"The financial irregularities are not material in nature and the company has already made required disclosures. The company has taken disciplinary action on employees," Infosys spokeswoman Sarah Gideon told Reuters in an email.
The company has named senior members Anup Uppadhayay and Deepak Bhalla as the unit's chief executive and chief financial officer respectively to take charge of the BPO unit, which contributes up to 7% to the company's revenue.